Investing/Development Opportunity in Itaparica Island, Bahia Brazil
This undulating freehold property ±86 hectares (212 acres)- with magnificent views over rich vegetation and sea is situated on the West coast of the island of Itaparica, in the state of Bahia, Brazil. ( 13° 03’15.61”S - 38° 46’52.09”W)
This is an excellent investment opportunity for private and commercial initiatives such as a residential estate or golf complex.
The terrain lends itself to multi-level residential and/or hotel projects that also integrate country club facilities such as tennis, horse riding, golf and water-sports.
Underground water supplies are plentiful and the mud from the mangroves has medicinal properties.
Features:
Electricity and water connected.
Access to main transport artery.
Primary forest 20%.
Secondary forest 70%.
Pasture 10% ·
Inland lake.
THE AREA UNDER OFFER
- This undulating freehold property with magnificent views over rich
- vegetation and sea is situated on the West coast of the island of Itaparica, Bahia, Brazil. (earth.google.com 13¢ª 03’15.61”S - 38¢ª 46’52.09”W)
- The footprint, that totals ±86 hectares (212 acres), is divided by a secondary road to a small town called Jiribatuba.
- This is an excellent investment opportunity for private or commercial initiatives. The terrain lends itself to multi-level residential and/or hotel projects that also integrate country club facilities such as tennis, horse riding, golf and water-sports.
- There are no beaches along the waterfront, but permission can be gained to construct a boardwalk and small marina.
- Natural water supplies are plentiful and the mud from the mangroves has medicinal properties
Features: - - Electricity and water connected.
- - Borders a main transport artery.
- - Primary forest +/- 20%.
- - Secondary forest +/- 70%.
- - Pasture +/- 10%
- - Inland lake.
DEVELOPMENT OPTIONS Local zoning and environmental regulations allow the development of hitherto rural land for residential and commercial use, providing a number of basic limitations are met. i. For residential use:- 30% of the land has to be kept ‘green.’ If there is original Atlantic forest or protected trees, this must certainly be included in the 30%.- Buildings should not exceed three floors.- For coastal areas with mangroves -such as this location- strict protection laws apply. However, mangroves can be crossed by a boardwalk and landing stages constructed in the sea canal. This required approval from the Port Authority. ii. For commercial use:- Here again, at least 30% of the land has to be covered by vegetation and original Atlantic forest or protected trees must be included in the 30%. Likewise, the same rules apply to coastal areas and inland waters.- Further to this, commercial enterprises are subject to a series of rigorous licensing laws. For the purposes of this introduction, we have chosen to outline two concepts that offer investors the best R.O.I., given local market developments and trends: - Concept I. A residential park with hotel spa and Mediterranean style village and marina.
- Concept II. A golf course, country club and residential park.
LICENSING & CONSTRUCTION
Building permits must be applied for by a registered architect or civil Engineer to the local municipal council, IMA (Instituto de Meio Ambiente -environmental institute) and the Brazilian Institute for Environment (IBAMA). The designs shown in this document should not meet any restrictions. Permission is usually given to build on up to 70% of the area, but there are serious restrictions concerning treatment of mangroves and sand flats (apicuns). More environmentally sensitive sites must go through a rigorous process of licensing that has been known to take up to three years. IMA, for instance, requires licensing to follow three stages, namely: 1. Localization (10-12 months). Application for license to develop the desired type of project. For this, topographic plans of the area are necessary, plus photographs and professional evaluation of the fauna and flora. 2. Implantation (6 months>).Application for license to construct on the licensed area. This requires complete architectural plans, systems of waste disposal and environmental impact studies etc. 3. Operation (on-going).This phase is basically the regular control that all environmental laws and licensing conditions are being adhered to. Both CRA and IBAMA have fiscal teams and are authorized to apply fines and start criminal actions.
